Want To Buy A Used Electric Car Before US Tax Credit Expires? 7 Things To Know - CleanTechnica

The article outlines key information for buyers in the United States who want to purchase a used electric vehicle (EV) and take advantage of the $4,000 federal tax credit before it expires on October 1, 2025. To qualify, the used EV must cost $25,000 or less (including dealer fees not required by law), be purchased from a licensed dealer, and be a model year at least two years old (2023 or earlier). The credit covers 30% of the sales price up to $4,000 and is nonrefundable, meaning buyers cannot receive more credit than their tax liability. Income limits apply based on filing status, with thresholds ranging from $75,000 to $150,000 adjusted gross income. Buyers should ensure the dealer confirms the vehicle’s eligibility and properly registers the sale with the IRS, as failure to do so disqualifies the credit. The article recommends negotiating the vehicle price before discussing the tax credit to secure the best deal, then